Seek Limited (SEK)

Goldman Sachs said it was cautious on Seek Limited, but kept its 12-month target price at $15.20 a share.

November was the third month of improvement in the new job ads trend and Goldman Sachs said “we remain comfortable with our FY14 volume forecasts".

The investment bank said that while labour market conditions in Australia remained weak, recent data supported expectations that SEEK’s job ad volumes should improve ahead of the unemployment rate peaking.

“We forecast job ad volumes in FY14E to decline 5 per cent and FY15E to be +15 per cent," Goldman said.